The Edelweiss Group on November 12 said it is looking to raise $1 billion from global institutional investors over the next one year for its financing platform in a bid to complete housing projects.The fund has been announced in a partnership between Edelweiss Alternative Asset Advisors (EAAA) and South Korean financial services conglomerate Meritz Financial Group and it has an initial outlay of $425 million.The platform will house funds that will buy out existing residential real estate loans and provide requisite completion financing to good quality, commercially viable projects, Edelweiss said in a release.Close The funds within the platform will be managed by Edelweiss' Alternative Asset Management business. related news Uddhav Thackeray meets Shiv Sena's MLA-elects at resort amid Maharashtra impasse Jaypee Infratech insolvency: Lenders to meet on Nov 18 to comply with SC direction VA Tech WABAG posts consolidated Q2 profit at Rs 23.89 Crore "The first fund of this … [Read more...] about Edelweiss Group to raise $1 billion for realty platform
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The Edelweiss group has recieved a Rs 525 crore fund infusion from growth-focused private equity platform Sanaka Capital and a few other co-investors.The fund raised will be pumped into Edelweiss Global Investment Advisors, its investment advisory business.While Sanaka Growth SPV I has committed to invest around Rs 308 crore, talks are on with others for an additional Rs 217 crore, the company said on November 12.Close "We look forward to working with the Sanaka team and to capitalise on emerging opportunities and take our investment advisory business to the next level," group chairman Rashesh Shah said. related news JSW Steel output falls 13 pc to 12.54 LT in October XLRI hosts 10th edition of annual finance symposium GNOSIS in Mumbai India's GDP likely to grow 5% this fiscal: SBI report Sanaka group founder Shankar Narayanan said his fund is confident that Edelweiss Global Investment Advisors will capture growth opportunities through product expansion and by entering … [Read more...] about Edelweiss arm gets Rs 525 crore from Sanaka Capital, others
The Central Bureau of Investigation (CBI) on Saturday confirmed media reports that a preliminary enquiry (PE) has been registered against Deepak Kochhar and Videocon chairman Venugopal Dhoot.The PE was registered a month ago and it is the first step to verify allegations of corruption. The PE also names unnamed bank officials.Deepak, husband of ICICI Bank CEO and MD Chanda Kochhar, has been accused of receiving Rs 64 crore from an entity (NuPower Renewables Pvt Ltd) set up by Dhoot with Deepak and two of his relatives as partners. This deal happened six months after Videocon group got Rs 3,250 crore loan from ICICI.Close Listen in: Podcast | All you need to know about ICICI Bank-Videocon controversy related news Banking wrap: RBI hikes deposit withdrawal limit for PMC Bank customers; lenders count on realty fund for NPA relief After fake marksheet scam, Haryana to verify certificates of govt employees, students ICICI Bank expands branch network in Tamil Nadu The amount was … [Read more...] about Videocon-ICICI Bank controversy: CBI registers preliminary enquiry
The first time I walked into Kim Perrelli’s office in Ocean Township, New Jersey, it was hard not to notice the babies. Perrelli is executive director of Child Care Resources of Monmouth County, a nonprofit that helps people access affordable childcare. While it’s not a childcare center, the organization’s policy is that new parents can bring infants to work with them for the first six months after birth or until they’re mobile. After that, the office welcomes children as needed by the parents. advertisement advertisement While some may think having children in the office would be disruptive, Perrelli says that’s not the case at all. “Babies are quite content when they’re with their parents,” she says. “With the intention behind this program, it just works. And not only does it work for mom and baby, the entire workplace benefits, even the skeptics.” With infant care averaging roughly $13,000 per year in her area (in … [Read more...] about The cost of childcare is ridiculous. Here’s how some parents are making it work
Moneycontrol News Fortis Healthcare's decision to buy the entire India portfolio of assets held by Singapore listed Religare Health Trust (RHT) aimed at simplifying the current structure hints at speeding up of possible stake sale.As per the definitive agreement – Fortis has agreed to buy the Indian portfolio of assets at an enterprise value of Rs 4,650 crore. A debt to the tune of Rs 1,152 crore of RHT will be transferred to Fortis balance sheet, as part of the deal.Fortis said the proposed acquisition is aimed at consolidating the entire Indian portfolio.Close “With the unwinding of the current structure, it would also make it easier for investors and other stakeholders to better understand the Company's business and financial performance,” Fortis said in a statement. related news Aditya Birla Fashion and Retail Q2 net loss at Rs 2.35 crore Jaypee Infratech insolvency: Lenders to meet on Nov 18 to comply with SC direction VA Tech WABAG posts consolidated … [Read more...] about Does Fortis Healthcare restructuring hint at possible sale?